Media Releases
Published Date: 26 June 2001

MAS signs Memorandum of Understandingwith Financial Services Board of the Republic of South Africa

26 Jun 2001... Singapore, 26 June 2001 - The MAS announced today that it has signed a Memorandum of Understanding (MoU) with the Financial Services Board of the Republic of South Africa (FSB).

2   The signing of the MoU paves the way for greater co-operation between the regulatory authorities in South Africa and Singapore, as part of MAS' continuous efforts to strengthen co-operation with regulators internationally.  Under the MoU, FSB and MAS agree to provide mutual assistance and exchange information necessary for investigations into offences or fraudulent practices regarding securities and futures transactions, as well as to facilitate the effective performance of their supervisory functions and enforcement of laws and regulations.

3   The MoU was signed by MAS Deputy Managing Director Ms Yeo Lian Sim and FSB Executive Officer Mr Jeff Van Rooyen in Stockholm at the Annual Conference of the International Organisation of Securities Commissions.

4   Yesterday, the MAS signed an MoU with the Commission Des Valeurs Mobilieres Du Quebec which will allow for greater co-operation and exchange of information between the two regulatory authorities. MAS has also entered into MoUs with other foreign regulators, including China's Securities Regulatory Commission, Hong Kong's Securities and Futures Commission, Taiwan's Securities and Futures Commission, Commission des Operations de Bourse and Conseil des Marches Financier of France, Germany's Bundesaufsichtsamt fur den Wertpapierhandel, the Australian Securities and Investments Commission, Brazil's  Commission Des Valeurs Mobilieres Du Quebec, the US Securities and Exchange Commission and the US Commodity Futures Trading Commission.